The U.K. Office for National Statistics (ONS) released trade data for the U.K. on Tuesday. The U.K. trade deficit in goods narrowed to £11.2 billion in March from £11.4 billion in February.
The decline in deficit was driven by a rise in exports, which increased by £0.4 billion in March.
The total trade deficit for goods and services widened to £13.3 billion in the first quarter from £12.2 billion in the fourth quarter of 2015. It was the biggest gap since the first quarter of 2008.
The total trade deficit, including services, narrowed to £3.83 billion in March from £4.3 billion in February. February’s figure was revised down from a deficit of £4.84 billion.
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